Oakwood, ND is a small town with many benefits. It is a comfortable place to live and work, boasting low rental rates and low living costs. The average two bedroom rent in Oakwood is only $820 per month, much lower than the national average of $1,430. The local Grocery Cost Index is also lower than the US average at 92 versus 100. Local companies such as Oakwood Grocery Store and Oakwood Auto Repair are popular establishments among residents. In addition to these services there are plenty of outdoor activities to enjoy like fishing or boating at nearby Lake Cooper. All in all, Oakwood makes for a great place to settle down and make memories.
Oakwood has an unemployment rate of 5.8%. The US average is 6.0%.
Oakwood has seen the job market decrease by -3.2% over the last year. Future job growth over the next ten years is predicted to be 23.2%, which is lower than the US average of 33.5%.
Tax Rates for Oakwood
- The Sales Tax Rate for Oakwood is 7.8%. The US average is 7.3%.
- The Income Tax Rate for Oakwood is 2.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Oakwood
- The average income of a Oakwood resident is $40,020 a year. The US average is $28,555 a year.
- The Median household income of a Oakwood resident is $61,250 a year. The US average is $69,021 a year.